Relay Therapeutics (NASDAQ:RLAY) Stock: Insider Peter Rahmer Sells 753 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 753 shares of Relay Therapeutics stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $18.62, for a total value of $14,020.86. Following the completion of the transaction, the insider owned 222,904 shares of the company’s stock, valued at approximately $4,150,472.48. This represents a 0.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Peter Rahmer also recently made the following trade(s):

• On Wednesday, August 26th, Peter Rahmer sold 4,508 shares of Relay Therapeutics stock. The stock was sold at an average price of $20.03, for a total value of $90,295.24.

Relay Therapeutics Trading Down 5.8%

Shares of RLAY stock opened at $18.35 on Friday. The company has a market capitalization of $4.02 billion, a P/E ratio of -11.69 and a beta of 1.72. The business’s 50 day moving average is $18.52 and its two-hundred day moving average is $14.95. Relay Therapeutics, Inc. has a 12-month low of $5.95 and a 12-month high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. On average, research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RLAY shares. Citizens Jmp increased their target price on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research report on Monday, August 10th. Citigroup reissued a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. Canaccord Genuity Group began coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 price target for the company. Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Zacks Research raised shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Relay Therapeutics during the 3rd quarter worth approximately $202,000. ProShare Advisors LLC raised its holdings in shares of Relay Therapeutics by 8.0% during the third quarter. ProShare Advisors LLC now owns 30,462 shares of the company’s stock valued at $550,000 after acquiring an additional 2,265 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Relay Therapeutics by 17.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 39,985 shares of the company’s stock valued at $734,000 after acquiring an additional 5,847 shares during the last quarter. Lighthouse Financial LLC acquired a new position in shares of Relay Therapeutics during the third quarter valued at approximately $389,000. Finally, Sterling Capital Management LLC lifted its position in shares of Relay Therapeutics by 381.6% in the third quarter. Sterling Capital Management LLC now owns 5,485 shares of the company’s stock valued at $99,000 after acquiring an additional 4,346 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.